Disinflation refers to a situation where:
a. Price level rises, but the rate of inflation does not
b. The rate of inflation rises, but the price level does not
c. Price level falls, but the rate inflation does not
d. The rate of inflation falls, but the price level does not
d. The rate of inflation falls, but the price level does not
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Suppose that personal income is $250 billion. Furthermore, assume that retained corporate earnings are $2 billion, social security taxes are $15 billion, social security benefit checks equal $16 billion, the capital consumption allowance is $32 billion, and corporate taxes amount to $40 billion. What will be the value of net national product in this country?
a. $209 billion b. $219 billion c. $283 billion d. $291 billion e. $323 billion
The motivating force behind an increase in supply in a long-run adjustment to equilibrium is
a. lower prices. b. economic profits that are present in the short run. c. higher profit expectations among owners of firms in the industry, triggered by increased prices. d. normal profits witnessed by individuals outside the industry that trigger entry. e. the decreases in average cost that can be obtained through economies of scale.
Examples of public goods include national defense, police, and the U.S. Postal Service.
Answer the following statement true (T) or false (F)
If households choose to take some fraction of each check they deposit and hold it as currency, then the simple deposit multiplier ________ the real-world multiplier
A) is greater than B) is less than C) is equal to D) bears no relationship to